Progressive launches smaller emerging markets fund

The new Frontier Markets fund will be closed-ended, Guernsey registered and quoted on AIM. The fund has been developed in response to growth in what Progressive terms ‘mainstream emerging markets’. It said some eight countries now accounted for 80pc of emerging market stock market capitalisation. They are Brazil, China, India, Mexico, Russia, South Africa, South Korea and Taiwan. Slim Feriani, managing director and chief investment officer of Progressive Developing Markets, said: “Advance Frontier Markets will give investors an exciting opportunity to access the growth and develo...